CKX Confirms Buyout Talks; Shares Jump

CKX Inc., the media company behind "American Idol," is confirming that it is in talks to sell the company.

The company did not give a price or say who the prospective buyer is.

It also cautioned Monday that a deal still might not happen and said it won't be releasing more details until it has a firm agreement.

The disclosure comes after The Wall Street Journal reported on its Web site Friday that CKX is close to selling itself to the private equity firm One Equity Partners for about $6 per share. That would be a 9 percent premium to the stock's close of $5.48 on Thursday.

The stock was up 24 cents, or 4 percent, to $6.20 in morning trading Monday.

CKX Inc., the media company behind American Idol, is confirming that it is in talks to sell the company.The company did not give a price or say who the prospective buyer is.It also cautioned Monday that a deal still might not happen and said it won't be releasing more...